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People waiting to get legal advice at a foreclosure clinic. |
It's a crime!
See CBS's 60 Minutes' shocking expose of how banks are committing fraud to evict homeowners.
"The time it takes us lawyers to win even the easiest of victories means most homeowners will not be helped. We have 3 part-time attorneys and thousands of summary eviction cases in 36th district Court.
“When people try to get modifications, the banks tell them documents are lost, and give contradictory information. People are told, ‘You can’t be helped unless you’re behind in your payments,’ and later they’re told, ‘You can’t be helped because you’re behind in your payments.’”
—Ted Phillips, Exec. Director, United Community Housing Coalition
Contacts for assistance & activism
Detroit Eviction Defense Committee
Detroit Eviction Defense Email: detroitevictiondefense
@gmail.com
detroitevictiondefense.org
United Community Housing Coalition
22 Bagley, Suite 224, Detroit 48226
Phone: 313-963-3310
Note: If you can't reach them by phone, please stop by the office.
email: uchc123@sbcglobal.net
web: uchcdetroit.org
Moratorium Now! Coalition Email: moratorium@moratorium-mi.org
Web: moratorium-mi.org
The Foreclosure Crisis
Banks still get bailed out,
While
families get thrown out
Fannie Mae, an agency that was taken over by the feds when it got into trouble, insures banks against loses when they foreclose. Fannie Mae then aggressively evicts families instead of negotiating relief. This government-owned agency is now the number-one evictor of families. This video by Doo-Occupy tells the story. |
U.S. uncovers mortgage abuse by lenders in metro Detroit, says Sen. Levin.
A two-year investigation of mortgage lenders found that "the companies made thousands of loans to homeowners in Metro Detroit and nationwide they knew likely wouldn't be repaid.
"The practices detailed in a 639-page report by the Senate's permanent subcommittee on investigations, which Levin chairs, found nearly a third of mortgages made in Metro Detroit during the height of the real estate bubble from 2005-07 by the top 10 risky lenders fell into foreclosure by 2008. Investigators say the crisis has since worsened.
"One lender cited in the report — Long Beach Mortgage Co., a former subsidiary of Washington Mutual — sold more than 3,800 Metro Detroit homeowners on risky loans during the height of the market between 2005 and 2007. More than half — 51.3 percent — of those properties were in foreclosure within a year..."
— The Detroit News, April 14, 2011
Read full article
In another case:
U.S. Gov't ordered 14 lenders and 2 servicers to reimburse homeowners
Who were incorrectly foreclosed upon
"Citibank, Bank of America, JPMorgan Chase and Wells Fargo, the nation's four largest banks, were among the financial firms cited in the joint report by the Federal Reserve, Office of Thrift Supervision and Office of the Comptroller of the Currency..."
True stories of mortgage abuses
From testimony before Wayne County Ways & Means Committee
Read more about how we got into this housing crisis.